On Oct. 8, 2024, the U.S. Treasury published final, immediately effective (and retroactive to 2018) listed transactions regulations (TD 10007) that have important implications for land trusts working on donations by pass-through entities (“regulations”). These regulations require “material advisors” to report these types of transactions to the IRS and failing to do so will trigger a $200,000 penalty.
The Land Trust Alliance has published the following resources about these regulations:
- Information and takeaways about the new regulations
- Decision tree addressing the new regulations
- Decision tree addressing the Charitable Conservation Easement Program Integrity Act.
The Land Trust Alliance will also hold a webinar on Nov. 21 12-1 PM EST. The webinar is free for land trusts and their attorneys (use promo code TaxUpdate24) and it will be recorded.